NEW YORK, May 13, 2022 /PRNewswire/ -- The electric actuators market size is expected to grow by USD 3.96 bn from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 5.24% during the forecast period. Technavio analyzes the market by end-user (automotive industry, water and wastewater industry, marine industry, aerospace and defense industry, and others), type (linear actuators and rotary actuators), and geography (APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America).
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The electric actuators market covers the following areas:
Electric Actuators Market Sizing
Electric Actuators Market Forecast
Electric Actuators Market Analysis
Driver and Challenge
The growing demand for commercial and defense aircraft is driving the growth of the global electric actuators market. There are prominent aircraft owners in APAC and Europe, with a combined share of more than half of the total aircraft fleet in the world. The increasing air passenger traffic is leading to a rise in the number of aircraft fleet. Electric actuators are a cost-effective and viable alternative to hydraulic and pneumatic actuator systems in commercial and defense aircraft. They help in improving the performance of aircraft and provide accurate control and faster reaction time. Moreover, the use of electric actuators in commercial and defense aircraft helps in reducing the burden on maintenance personnel and provides higher reliability and lower lifecycle cost. Hence, with the growth in demand for commercial and defense aircraft, the demand for electric actuators is expected to increase during the forecast period.
The risk from faulty and loosely insulated electric actuators and their malfunctions will challenge the global electric actuator market share growth during the forecast period. Electric actuators are built to operate and sustain in various temperatures. These products need to be stored properly, with appropriate insulation measures to prevent leakage. Leakage of gases due to faulty or loosely insulated electric actuators can adversely impact the health of employees and people in the vicinity of electric actuators. Inhaling argon can cause asphyxiation or suffocation. It can also cause issues such as a stinging sensation in the eyes, vomiting, dizziness, rapid breathing, excitation, headaches, excess salivation, stinging of the nose and throat, and may result in unconsciousness. This may lead to compliance issues with authorities. Thus, faulty and loosely insulated electric actuators can impact their demand during the forecast period.
Regional Analysis
APAC will account for 32% of the market's growth during the forecast period. The increasing use of electric actuators in industrial robots and automation will drive the electric actuators market growth in APAC during the forecast period. Moreover, market growth in this region will be faster than the growth of the market in North America and South America. China and Japan are the key countries for the electric actuators market in APAC.
Companies Mentioned
- ABB Ltd.
- Curtiss-Wright Corp.
- Emerson Electric Co.
- General Electric Co.
- LINAK AS
- Moog Inc.
- Parker Hannifin Corp.
- Rotork Plc
- Siemens AG
- SMC Corp.
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Electric Actuators Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 5.24% |
Market growth 2021-2025 | USD 3.96 billion |
Market structure | Fragmented |
YoY growth (%) | 4.76 |
Regional analysis | APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America |
Performing market contribution | APAC at 32% |
Key consumer countries | US, China, Germany, Japan, and UK |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | ABB Ltd., Curtiss-Wright Corp., Emerson Electric Co., General Electric Co., LINAK AS, Moog Inc., Parker Hannifin Corp., Rotork Plc, Siemens AG, and SMC Corp. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value Chain Analysis: Electrical Components and Equipment Market
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five Forces Summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End user - Market share 2020-2025 (%)
- 5.2 Comparison by End user
- Exhibit 16: Comparison by End user
- 5.3 Automotive industry - Market size and forecast 2020-2025
- Exhibit 17: Automotive industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Automotive industry - Year-over-year growth 2020-2025 (%)
- 5.4 Water and wastewater industry - Market size and forecast 2020-2025
- Exhibit 19: Water and wastewater industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Water and wastewater industry - Year-over-year growth 2020-2025 (%)
- 5.5 Marine industry - Market size and forecast 2020-2025
- Exhibit 21: Marine industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 22: Marine industry - Year-over-year growth 2020-2025 (%)
- 5.6 Aerospace and defense industry - Market size and forecast 2020-2025
- Exhibit 23: Aerospace and defense industry - Market size and forecast 2020-2025 ($ million)
- Exhibit 24: Aerospace and defense industry - Year-over-year growth 2020-2025 (%)
- 5.7 Others - Market size and forecast 2020-2025
- Exhibit 25: Others - Market size and forecast 2020-2025 ($ million)
- Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
- 5.8 Market opportunity by End user
- Exhibit 27: Market opportunity by End user
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 28: Type - Market share 2020-2025 (%)
- 6.2 Comparison by Type
- Exhibit 29: Comparison by Type
- 6.3 Linear actuators - Market size and forecast 2020-2025
- Exhibit 30: Linear actuators - Market size and forecast 2020-2025 ($ million)
- Exhibit 31: Linear actuators - Year-over-year growth 2020-2025 (%)
- 6.4 Rotary actuators - Market size and forecast 2020-2025
- Exhibit 32: Rotary actuators - Market size and forecast 2020-2025 ($ million)
- Exhibit 33: Rotary actuators - Year-over-year growth 2020-2025 (%)
- 6.5 Market opportunity by Type
- Exhibit 34: Market opportunity by Type
7 Customer landscape
- 7.1 Customer landscape
- Exhibit 35: Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- Exhibit 36: Market share by geography 2020-2025 (%)
- 8.2 Geographic comparison
- Exhibit 37: Geographic comparison
- 8.3 APAC - Market size and forecast 2020-2025
- Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
- 8.4 Europe - Market size and forecast 2020-2025
- Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
- 8.5 North America - Market size and forecast 2020-2025
- Exhibit 42: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 43: North America - Year-over-year growth 2020-2025 (%)
- 8.6 MEA - Market size and forecast 2020-2025
- Exhibit 44: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
- 8.7 South America - Market size and forecast 2020-2025
- Exhibit 46: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 47: South America - Year-over-year growth 2020-2025 (%)
- 8.8 Key leading countries
- Exhibit 48: Key leading countries
- 8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- Exhibit 50: Impact of drivers and challenges
- 9.3 Market trends
10 Vendor Landscape
- 10.1 Overview
- Exhibit 51: Vendor landscape
- 10.2 Landscape disruption
- Exhibit 52: Landscape disruption
- Exhibit 53: Industry risks
- 10.3 Competitive Scenario
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 54: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 55: Market positioning of vendors
- 11.3 ABB Ltd.
- Exhibit 56: ABB Ltd. - Overview
- Exhibit 57: ABB Ltd. - Business segments
- Exhibit 58: ABB Ltd. - Key news
- Exhibit 59: ABB Ltd. - Key offerings
- Exhibit 60: ABB Ltd. - Segment focus
- 11.4 Curtiss-Wright Corp.
- Exhibit 61: Curtiss-Wright Corp. - Overview
- Exhibit 62: Curtiss-Wright Corp. - Business segments
- Exhibit 63: Curtiss-Wright Corp. - Key news
- Exhibit 64: Curtiss-Wright Corp. - Key offerings
- Exhibit 65: Curtiss-Wright Corp. - Segment focus
- 11.5 Emerson Electric Co.
- Exhibit 66: Emerson Electric Co. - Overview
- Exhibit 67: Emerson Electric Co. - Business segments
- Exhibit 68: Emerson Electric Co. - Key news
- Exhibit 69: Emerson Electric Co. - Key offerings
- Exhibit 70: Emerson Electric Co. - Segment focus
- 11.6 General Electric Co.
- Exhibit 71: General Electric Co. - Overview
- Exhibit 72: General Electric Co. - Business segments
- Exhibit 73: General Electric Co. - Key news
- Exhibit 74: General Electric Co. - Key offerings
- Exhibit 75: General Electric Co. - Segment focus
- 11.7 LINAK AS
- Exhibit 76: LINAK AS - Overview
- Exhibit 77: LINAK AS - Product and service
- Click or tap here to enter text.
- Exhibit 78: LINAK AS - Key offerings
- 11.8 Moog Inc.
- Exhibit 79: Moog Inc. - Overview
- Exhibit 80: Moog Inc. - Business segments
- Exhibit 81: Moog Inc. - Key news
- Exhibit 82: Moog Inc. - Key offerings
- Exhibit 83: Moog Inc. - Segment focus
- 11.9 Parker Hannifin Corp.
- Exhibit 84: Parker Hannifin Corp. - Overview
- Exhibit 85: Parker Hannifin Corp. - Business segments
- Exhibit 86: Parker Hannifin Corp. - Key news
- Exhibit 87: Parker Hannifin Corp. - Key offerings
- Exhibit 88: Parker Hannifin Corp. - Segment focus
- 11.10 Rotork Plc
- Exhibit 89: Rotork Plc - Overview
- Exhibit 90: Rotork Plc - Business segments
- Exhibit 91: Rotork Plc - Key offerings
- Exhibit 92: Rotork Plc - Segment focus
- 11.11 Siemens AG
- Exhibit 93: Siemens AG - Overview
- Exhibit 94: Siemens AG - Business segments
- Exhibit 95: Siemens AG - Key news
- Exhibit 96: Siemens AG - Key offerings
- Exhibit 97: Siemens AG - Segment focus
- 11.12 SMC Corp.
- Exhibit 98: SMC Corp. - Overview
- Exhibit 99: SMC Corp. - Business segments
- Exhibit 100: SMC Corp. - Key offerings
- Exhibit 101: SMC Corp. - Segment focus
12 Appendix
- 12.1 Scope of the report
- 12.2 Currency conversion rates for US$
- Exhibit 102: Currency conversion rates for US$
- 12.3 Research methodology
- Exhibit 103: Research Methodology
- Exhibit 104: Validation techniques employed for market sizing
- Exhibit 105: Information sources
- 12.4 List of abbreviations
- Exhibit 106: List of abbreviations
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